Five-yr extension expected for Indian export credit scheme

(India Times, New Delhi, 26 June 2024) India is expected to extend a key support scheme for export credit to boost its export sector, which has been hit hard by a slowdown in developed countries. The commerce and industry ministry has proposed an extension of the interest equalisation scheme beyond June 30, providing a 3% benefit for manufacturer micro, small and medium enterprises (MSME) and a 2% incentive for exporters of 410 identified tariff lines. The Centre is likely to extend a key support scheme for export credit to enhance competitiveness of India's export sector, which was hit hard by slowdown in the developed countries, said people familiar with the matter.